Walter Payne Foundation
Walter Payne Foundation maintains stable assets with volatile revenue and no reported officer compensation.
EIN: 10626611 · Richmond, VA · NTEE: T20 · Updated: 2026-03-27
| Metric | Value |
|---|---|
| Total Revenue | $5.4M |
| Total Expenses | $279K |
| Program Spending | 75% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $2.4M |
| Transparency Score | 70/100 |
Is Walter Payne Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Walter Payne Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Walter Payne Foundation
Walter Payne Foundation (EIN: 10626611) is a nonprofit organization based in Richmond, VA, classified under NTEE code T20. The organization reported total revenue of $5.4M and total assets of $4.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Walter Payne Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Walter Payne Foundation is a mid-size nonprofit that has been operating for 23 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $358K |
| Total Expenses | $279K |
| Surplus / Deficit | +$79K |
| Total Assets | $2.4M |
| Total Liabilities | $1 |
| Net Assets | $2.4M |
| Operating Margin | 22.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 103.5 months |
Financial Health Grade: A
In 2023, Walter Payne Foundation reported a surplus of $79K with revenue exceeding expenses, holds 103.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Walter Payne Foundation's revenue has grown at a compound annual growth rate (CAGR) of 8.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +143.1% | -2.4% | +3.4% |
| 2022 | -69.7% | +9.1% | -5.6% |
| 2021 | +356.8% | +10.6% | +10.0% |
| 2020 | -41.7% | -2.2% | -5.5% |
| 2019 | -30.4% | +8.2% | -6.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Walter Payne Foundation with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Walter Payne Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $79K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Walter Payne Foundation consistently reports 0% officer compensation across all ten provided IRS 990 filings, which is highly unusual for an organization with assets consistently over $2 million. This suggests either a fully volunteer-led executive team or that executive compensation is structured in a way not reported as 'officer compensation' on the 990, warranting further inquiry.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Walter Payne Foundation's IRS 990 filings:
- Significant discrepancy between 'Latest Revenue' ($5.3M) and highest reported annual revenue ($485K in 2021) without explanation.
- Consistent 0% officer compensation for an organization with over $2 million in assets, which is highly unusual.
- Volatile annual revenue, ranging from $106,338 (2020) to $485,773 (2021), making financial planning and program scaling potentially challenging.
Strengths
The following positive indicators were identified for Walter Payne Foundation:
- Strong asset base, consistently above $2 million, indicating financial stability.
- Very low liabilities (often $0 or $1), suggesting excellent debt management and financial health.
- Generally operates with expenses below revenue in most recent years (e.g., 2023 revenue $358,206 vs. expenses $279,350), avoiding consistent deficits.
- Consistent filing of IRS Form 990s, demonstrating a commitment to regulatory compliance.
Frequently Asked Questions about Walter Payne Foundation
Is Walter Payne Foundation a legitimate charity?
Walter Payne Foundation (EIN: 10626611) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 70/100. It has 10 years of IRS 990 filings on record. Total revenue: $5.4M. 3 red flags identified. 4 strengths noted. Financial health grade: A.
How does Walter Payne Foundation spend its money?
Walter Payne Foundation directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Walter Payne Foundation tax-deductible?
Walter Payne Foundation is registered as a tax-exempt nonprofit (EIN: 10626611). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Walter Payne Foundation CEO make?
Walter Payne Foundation's highest-compensated officer earns $2 annually. The organization reported $5.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Walter Payne Foundation's spending goes to programs?
Walter Payne Foundation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Walter Payne Foundation compare to similar nonprofits?
With a transparency score of 70/100 (Good), Walter Payne Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Walter Payne Foundation located?
Walter Payne Foundation is headquartered in Richmond, Virginia and files with the IRS under EIN 10626611. It is classified under NTEE code T20.
How many years of IRS 990 filings does Walter Payne Foundation have?
Walter Payne Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $5.4M in total revenue.
Why is there a significant discrepancy between the 'Latest Revenue' of $5,378,021 and the highest annual revenue reported in the filing history ($485,773 in 2021)?
This discrepancy needs clarification. It could be due to a large one-time grant or donation received outside the provided annual filing periods, or it might refer to a different reporting metric not directly comparable to the annual 990 revenue figures.
How does the Walter Payne Foundation manage its executive leadership without reporting any officer compensation?
The consistent reporting of 0% officer compensation suggests that the foundation may be entirely volunteer-led at the executive level, or that compensation is provided through a different mechanism not categorized as 'officer compensation' on the 990, such as through a management company or as contractor fees.
What is the specific breakdown of program, administrative, and fundraising expenses for the Walter Payne Foundation?
The provided data does not offer a detailed breakdown of these expense categories. While the organization generally spends less than it earns, understanding these ratios is crucial for assessing spending efficiency and program focus.
Given the NTEE code T20, what specific programs or activities does the Walter Payne Foundation engage in?
The NTEE code T20 broadly covers 'Philanthropy, Voluntarism, and Grantmaking Foundations'. A more detailed understanding of their specific programmatic activities would provide insight into their mission effectiveness.
Filing History
IRS 990 filing history for Walter Payne Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Walter Payne Foundation's revenue has grown by 157.9%, moving from $139K to $358K. Total assets increased by 3.9% over the same period, from $2.3M to $2.4M. Total functional expenses rose by 61.5%, from $173K to $279K. In its most recent filing year (2023), Walter Payne Foundation reported a surplus of $79K, with revenue exceeding expenses. The organization holds $1 in liabilities against $2.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $358K | $279K | $2.4M | $1 | — | View 990 |
| 2022 | $147K | $286K | $2.3M | $1 | — | View 990 |
| 2021 | $486K | $262K | $2.5M | $1 | — | View 990 |
| 2020 | $106K | $237K | $2.2M | $1 | — | View 990 |
| 2019 | $182K | $242K | $2.4M | $1 | — | View 990 |
| 2015 | $262K | $224K | $2.5M | $0 | — | View 990 |
| 2014 | $359K | $201K | $2.5M | $0 | — | View 990 |
| 2013 | $209K | $182K | $2.4M | $8K | — | View 990 |
| 2012 | $173K | $171K | $2.3M | $0 | — | View 990 |
| 2011 | $139K | $173K | $2.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $358K, expenses of $279K, and assets of $2.4M (revenue +143.1% year-over-year).
- 2022: Revenue of $147K, expenses of $286K, and assets of $2.3M (revenue -69.7% year-over-year).
- 2021: Revenue of $486K, expenses of $262K, and assets of $2.5M (revenue +356.8% year-over-year).
- 2020: Revenue of $106K, expenses of $237K, and assets of $2.2M (revenue -41.7% year-over-year).
- 2019: Revenue of $182K, expenses of $242K, and assets of $2.4M (revenue -30.4% year-over-year).
- 2015: Revenue of $262K, expenses of $224K, and assets of $2.5M (revenue -27.0% year-over-year).
- 2014: Revenue of $359K, expenses of $201K, and assets of $2.5M (revenue +71.5% year-over-year).
- 2013: Revenue of $209K, expenses of $182K, and assets of $2.4M (revenue +20.9% year-over-year).
- 2012: Revenue of $173K, expenses of $171K, and assets of $2.3M (revenue +24.5% year-over-year).
- 2011: Revenue of $139K, expenses of $173K, and assets of $2.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Walter Payne Foundation:
Data Sources and Methodology
This transparency report for Walter Payne Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.